Xiaomi launched its electric car business back in March 2021, announcing that it would initially invest $1.5 billion in the project and eventually invest $10 billion over the next 10 years. The EVs will launch through the newly-formed Xiaomi Auto Co Ltd. Company and in November 2021, Xiaomi agreed to a contract with the Beijing Economic and Technological Development Area Management Committee to build the headquarters of its auto business. This plant will have an annual production capacity of 300,000 units.
While the company is not expected to begin production of its first electric vehicle until 2024, it will be ready to unveil an engineering prototype at a public event next month, according to a report from Sina Tech. It remains unclear how close this engineering prototype will be to the actual production model.
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Reports indicate that the design of Xiaomi’s first EV has been led by Shanghai HVST Automobile Design, the company behind the gorgeous WM Motor Maven Concept. It remains to be seen if Xiaomi’s EV will look anything like the Maven.
CNEV Post suggests that Xiaomi’s engineering prototype will undergo a host of tests after its debut, including cold winter tests.
Xiaomi’s aforementioned plant in Beijing will be built in two phases, each with an annual production capacity of 150,000 vehicles. In March, the technology giant’s research and development team in its automotive business had grown to more than 1,000 people and will continue to expand its teams focusing on autonomous driving technologies and smart cockpits.
It is unclear what body style will be adopted by Xiaomi’s first EV, but the company is thought to be working on at least four different models.